Travelers 2010 Annual Report Download - page 240

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
13. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)
Fair Value Hierarchy—Pension Plans
The following tables present the level within the fair value hierarchy at which the financial assets
of the Company’s pension plans are measured on a recurring basis at December 31, 2010 and 2009.
(at December 31, 2010, in millions) Total Level 1 Level 2 Level 3
Invested assets:
Fixed maturities
U.S. Treasury securities and obligations of U.S.
Government and government agencies and
authorities .......................... $41$41 $— $—
Debt securities issued by foreign governments . . 9—9—
Mortgage-backed securities, collateralized
mortgage obligations and pass-through
securities ........................... 26 — 26 —
All other corporate bonds ................ 109 — 109 —
Total fixed maturities .................. 185 41 144 —
Mutual funds
Equity mutual funds .................... 1,058 1,058 — —
Bond mutual funds ..................... 411 411 — —
Total mutual funds .................... 1,469 1,469 — —
Equity securities ......................... 390 390 — —
Other investments(1) ..................... 18 — — 18
Cash and short-term securities
U.S. Treasury securities .................. 135 135 — —
Money market mutual funds ............... 15 15 — —
Other ............................... 213 2 211 —
Total cash and short-term securities ........ 363 152 211 —
Total ............................ $2,425 $2,052 $355 $18
(1) Other investments include a hedge fund and two private equity funds. The hedge fund is
a ‘‘fund of funds’’ that is multi-strategy. One private equity fund is focused on financial
companies, and the other is focused on real estate-related investments.
228